The North America cancer therapy market size is anticipated to register a significant CAGR during the forecast period, 2021-2028. The growth of market is attributed due to increasing prevalence of cancer, investments on R&D, and rising government initiatives for cancer awareness.
The demand for personalized medicines and increasing number of cancer cases is expected to ascend the demand for advanced cancer therapies for the effective treatment of the sufferers.
Targeted therapy segment is expected to witness rapid growth in the field of cancer research, and researchers are primarily focused on studying various new targets with increasing favorable government support on product approvals and research initiatives regarding target therapy against cancer, is anticipated to surge during the forecast period.
According to the research report of Canadian Cancer Society (CCS) 2020 it is expected to showcase, 225,790 new cancer cases and 83,000 deaths to strike in Canada during forecast period. In an average approximately, 600 Canadian people are diagnosed with cancer on daily basis.
With the COVID-19 outbreak and China being the global manufacturing hub, and the largest raw material supplier globally, the overall market shattered owing to the corona virus affecting the growth market. Temporarily shutting down of factories, disruption in supply chain, and downfall of the economy has affected the industries in various countries.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing number of cancer cases and research activities is expected to drive the market during forecast period.
- Growing government initiatives towards cancer awareness is estimated to boost the market in the coming years.
- Increasing cancer incidence and demand for personalized medicines is anticipated to surge the market demand during the projected period.
- Growing investment towards target therapy for effective treatment of the sufferer is estimated to propel the market in the coming years.
- Increasing product approvals and growing research and researcher studies against new cancers variants and medicines is estimated to fuel the market during the forecast period.
- R&D and technological advancement against target therapies for effective treatment of the patients suffering from the lethal diseases creates lucrative opportunities for the key players in the market.
Scope of the market
The report on the North America cancer therapy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Cancer therapy market – North America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Therapy Types (Cancer Type [Blood Type, Breast Cancer, Skin Cancer, Prostate Cancer, Respiratory/Lung Cancer]), End-users (Hospitals, Specialty Clinics, Cancer and Radiation Therapy Centers)
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Geographical Scope
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United States, Canada, Mexico
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Johnson and Johnson; Merck & Co. Inc.; Amgen Inc.; Bayer AG; AstraZeneca PLC.
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Market Segment Insights
The target segment is expected to exhibit high CAGR
The market is segregated into therapy type and cancer type. The cancer type segment is further segregated into blood type, breast cancer, skin cancer, prostate cancer, and respiratory/lung cancer. The therapy segment is sub-segmented into chemotherapy, targeted therapy, immunotherapy, hormonal therapy, and others. The target segment is expected to exhibit high CAGR during the forecast period owing to specialized drugs to targets specific genes and proteins that stagnates the growth of cancers cells although it affect the tissue environment and target cells which involves in cancer growth such as blood vessel cells and rapid growth in cancer research segment and drugs through trials are some factors escalating the market in the coming years.
The hospital segment is estimated to hold large share of the market
On the basis of end user, the market is fragmented into hospitals, specialty clinics, and cancer & radiation therapy centers. The hospital segment is estimated to hold large share of the market in the coming years owing to early diagnosis of the patients suffering from the diseases and accordingly effective treatment and medication can be commenced to reduce the possibility of cancer spread.
Segments
The North America cancer therapy market has been bifurcated on the basis of
Therapy Types
- Chemotherapy
- Targeted Therapy
- Immunotherapy
- Hormonal Therapy
- Others
Cancer Type
- Blood Type
- Breast Cancer
- Skin Cancer
- Prostate Cancer
- Respiratory/Lung Cancer
End Users
- Hospitals
- Specialty Clinics
- Cancer and Radiation Therapy Centers
Geographies
- United States
- Canada
- Mexico
Key Players
- Johnson and Johnson
- Merck & Co. Inc.
- Amgen Inc.
- Bayer AG
- AstraZeneca PLC.
Competitive Landscape
Key players competing in North America cancer therapy market include Johnson and Johnson; Merck & Co. Inc.; Amgen Inc.; Bayer AG; AstraZeneca PLC.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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